Monday 24 April 2017

We have Irish-style rules for competition

In China they have huge lumbering conglomerates, known as state-owned enterprises, with direct control by the Communist Party. They continue to play a huge role in the Chinese economy. In Ireland, we have our semi-state bodies.

For many years consumers in Ireland have been held hostage by these supposedly commercial companies. Thanks to Ryanair, we now have significant competition in airline travel, and even in bus transport there is a strong element of competition.

Now in the electricity market there is also an element of competition, with at least one competitor offering a 14pc reduced rate off ESB's price.

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